So the information is in the public arena now ... No TUPE ... Resignations will be required of staff transferring and by inference others will be made redundant as there'll be no jobs for them to do.
Grade confirmed that ITV would not be joining in the government's proposed independently funded news consortiums, which are being set up to provide regional news on ITV1.
"If our staff wish to be part of an outside consortium bidding we will be happy for them to take that opportunity," Grade said.
The committee chairman, John Whittingdale, asked if ITV staff in the regions chosen for the pilot schemes would have to leave the company and seek employment with the IFNCs.
Michael Jermey, the ITV director of news, current affairs and sport, confirmed that was the case.
Grade said he had two major concerns about the IFNCs: that they would provide news of sufficient quality and that they would not damage ITV's advertising revenues if they were allowed to show commercials.